CGC
Daily chart analysis
Smoked.
Like to average down?
Like to blindly buy after a price drop because it’s at a "good price and I'm in it long term”
Like to #HODL ?
This stock is a great example of “what’s low, can go lower”
CGC peaked Sept.’18 when it reached almost 57.00
The uptrend ended, price fell, and went sideways.
Feb.’21 we had a “dead cat bounce” that saw the price touch all-time highs of 57.00 once again.
Since touching 57.00 in Feb.'21, it’s been a meltdown.
Price is currently at 3.08.
LOL hope “HODL” was worth it.
It’s been 1,476 days since it 1st touch 57.00 with no end in sight to the down slide.
In the current downtrend, price has found resistance at 3.86 area.
A triple top with a neckline at 3.30 has formed.
The neckline has been broken; this is my cue to enter trade short.
Entry: 3.07
Stop loss: 3.95
Target: 2.19, +28.66%, RR ratio 1.00
Daily chart analysis
Smoked.
Like to average down?
Like to blindly buy after a price drop because it’s at a "good price and I'm in it long term”
Like to #HODL ?
This stock is a great example of “what’s low, can go lower”
CGC peaked Sept.’18 when it reached almost 57.00
The uptrend ended, price fell, and went sideways.
Feb.’21 we had a “dead cat bounce” that saw the price touch all-time highs of 57.00 once again.
Since touching 57.00 in Feb.'21, it’s been a meltdown.
Price is currently at 3.08.
LOL hope “HODL” was worth it.
It’s been 1,476 days since it 1st touch 57.00 with no end in sight to the down slide.
In the current downtrend, price has found resistance at 3.86 area.
A triple top with a neckline at 3.30 has formed.
The neckline has been broken; this is my cue to enter trade short.
Entry: 3.07
Stop loss: 3.95
Target: 2.19, +28.66%, RR ratio 1.00